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The property market today saw several notable developments in major urban areas. Ho Chi Minh City is collecting opinions on draft criteria and policies for converting industrial parks and clusters into an eco-industrial model from October 6 to November 6. The city has also allocated or leased approximately 708 hectares of land to Thadico and Becamex for industrial and urban projects. Meanwhile, experts support imposing a 0.2% tax on vacant land but have called for clear criteria to identify such land and limit impacts on businesses and the real estate market. Primary apartment prices in Ho Chi Minh City continued to rise by 12% year on year to an average of VND 110 million per square meter, despite supply increasing by nearly half in the third quarter, according to Knight Frank. The city’s Department of Construction also confirmed that foreign buyers had signed contracts for 57 apartments at the Sensation project in An Khanh Ward, with 24 units remaining in the foreign ownership quota.

The real estate market recorded several notable developments in Ho Chi Minh City and Hanoi. In Ho Chi Minh City, the authorities have allocated or leased approximately 708 hectares of land to Thadico and Becamex for industrial and urban projects, while planning to auction five land lots in An Khanh Ward in October. The city has also recovered more than 6,400 square meters of public land in the C30 area after the managing unit voluntarily returned it. In the residential segment, the Sensation project has signed sales contracts for 57 apartments with foreign buyers, while 24 units remain available under the foreign ownership quota. Ho Chi Minh City also requires real estate businesses to register electronic identification accounts and use VNeID to disclose project information on the housing information system. Regarding policy and business conditions, more than 2,800 real estate companies completed dissolution procedures in the first nine months of the year, an increase of 123% year on...

The real estate market is recording notable developments in Hanoi and Ho Chi Minh City, ranging from the management and use of public land to new project activity. In Ho Chi Minh City, more than 6,400 square meters of public land at Lot B18 in the C30 area, Dien Hong Ward, has been reclaimed after the managing unit voluntarily returned it. The city has also approved a plan to auction five land lots in An Khanh Ward in October, an area containing apartment blocks in a 3,790-unit resettlement complex that have remained vacant for years. Meanwhile, despite the prohibition, apartments are still being used as offices, warehouses and spas in many condominium buildings, causing frustration among residents. In suburban areas, some apartment owners have accepted rent reductions of 8-10% amid competition from new supply and tighter controls on short-term accommodation activities in buildings. In Hanoi, land-use fee collection reached VND 85.044 trillion by September 30, equivalent to more than...

Vietnam’s real estate market is seeing notable developments in supply, policy and purchasing power. In Hanoi, the city collected VND 85.044 trillion in land-use fees during the first nine months of the year, reaching more than 56% of the annual plan. Nearly one hectare of land at 6-8 Chua Boc Street has also been converted for a project comprising apartments, offices and a hotel. Meanwhile, Phat Dat opened the Q'Terra project sales gallery at Grand Terra Building, 36 Cat Linh, on October 3, attracting hundreds of customers and investors. In the social housing segment, the projected selling price at HUD Thu Duc is more than VND 30.7 million per square meter for 209 apartments, with applications expected to be accepted from the fourth quarter. The Long Truong social housing project has a determined selling price of nearly VND 24.5 million per square meter, while its rental price was reduced by nearly VND 13,000 per square meter per month after review. More than 1,100 apartments at 4S...

The real estate market is seeing notable developments in Ho Chi Minh City, Hanoi and several other localities. In Ho Chi Minh City, real estate business revenue reached VND 322.63 trillion in the first nine months of the year, up 8.4% year on year. However, slow liquidity and high capital costs are prompting some investors in Ho Chi Minh City and the former Binh Duong area to put apartments up for sale, accepting lower profit expectations to recover capital. MBS forecasts that the real estate absorption rate in the second half of the year may reach only about 40-50%, down 10 percentage points year on year, as high interest rates continue to weigh on purchasing power. In the United States, the 30-year mortgage rate rose to 7.28%, its highest level in three years, adding pressure on homebuyers and homeowners seeking to refinance. The social housing segment remains a major focus. The selling price of social housing in Long Truong has been set at nearly VND 24.5 million per square meter,...

The real estate market is facing clear pressure from high interest rates and elevated financing costs. MBS Securities forecasts that the property absorption rate in the second half of the year may reach only around 40 to 50%, down 10 percentage points year on year, as high interest rates continue to weigh on purchasing power. In the United States, the 30 year mortgage rate rose to 7.28%, its highest level in three years, putting pressure on homebuyers and homeowners seeking to refinance. In Vietnam, slow liquidity and high capital costs have prompted some investors in Ho Chi Minh City and the former Binh Duong area to put apartments up for sale, accepting lower profit expectations to recover capital. Nevertheless, real estate revenue in Ho Chi Minh City reached VND 322.63 trillion in the first nine months of the year, up 8.4% year on year. In project development, local authorities and businesses are stepping up preparations for land funds, housing and resort real estate. Hanoi has ap...

The real estate market is showing mixed developments. In Ho Chi Minh City and Binh Duong, slow liquidity and high capital costs are prompting some investors to resell apartments and accept lower profit expectations to recover capital. Meanwhile, riverside apartment prices in cities have risen sharply over the past five years, reaching 500 to 650 million VND per square meter in some locations as land along the Saigon River becomes increasingly scarce and new projects continue to establish higher price levels. Some projects are offering buyer support policies, such as The Westique Residences, which provides a maximum discount of 13.1% for customers making fast payments, together with extended payment schedules and interest waivers. In Da Nang, studio apartments along the Han River, starting from 1.8 billion VND, are being introduced for rental exploitation. In planning and project development, Hanoi has converted more than 6,000 square meters of land near the foot of Vinh Tuy Bridge fo...